Seneca Foods Reports Sales and Earnings for the Quarter and Nine Months Ended December 30, 2023 [Yahoo! Finance]
Seneca Foods Corp. - Class B (SENEB)
US:NASDAQ Investor Relations:
senecafoods.com/investors
Company Research
Source: Yahoo! Finance
Executive Summary (vs. year-ago, year-to-date results): Net sales for the nine months ended December 30, 2023 totaled $1,150.6 million compared to $1,178.3 million for the nine months ended December 31, 2022. The year-over-year decrease of $27.7 million was mainly due to lower sales volumes partially offset by higher selling prices. Gross margin as a percentage of net sales for the nine months ended December 30, 2023 is 14.6% as compared to 10.0% for the nine months ended December 31, 2022. Reported net earnings were $65.6 million and $42.3 million for the nine months ended December 30, 2023 and December 31, 2022, respectively. “Third quarter results continued a strong fiscal 2024 for the Company. Decreasing LIFO charges compared to last year as a result of moderating inflation had a positive impact on reported net earnings,” stated Paul Palmby, President and Chief Executive Officer of Seneca Foods. “Additionally, we are well along with the integration of the Green Giant shel
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- Seneca Foods Reports Sales and Earnings for the Quarter and Nine Months Ended December 30, 2023GlobeNewswire